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• Social media giant had been using ‘FB’ ticker since 2012
After a decade of trading as Facebook, the social media giant started trading under the ticker symbol ‘META’ on Thursday, which it announced on June 1, as the company is trying to shift away from its old corporate avatar to a shared virtual world called metaverse.
The social media giant changed its name from Facebook Inc to Meta Platform Inc (NASDAQ: META) in October last year, which oversees all of its products, including Facebook, Instagram, WhatsApp and Oculus.
Mark Zuckerberg, Meta’s co-founder and CEO, established Facebook in 2004 and used the ticker ‘FB’ since the company listed itself on Nasdaq in 2012 through an initial public offering.
Meta shares have fallen nearly 42% this year as the company battles criticism from lawmakers and regulators over its market dominance, algorithmic decisions and its policing of abuses.
Picture Credit: QZ
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